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1/7/2015 10:43AM

Puzzle Forms in Morgan Stanley Data Breach

Last summer, a newly minted Morgan Stanley financial adviser named Galen Marsh started to sift through the account records of 350,000 of the firm’s clients. Virtually none of them were his own. Justin Baer explains on MoneyBeat. Photo: Getty.

This transcript has been automatically generated and may not be 100% accurate.

... Morgan Stanley continues to unwind the strands of beads the that that ... it's coming across many questions as answers Justin Baer and fall in the story ... an e joins us now just in a doing ... too well so there are a couple things that we know ... what do we know yet so I didn't that what that that just a story that begins was of a classic case of employee taking something that doesn't belong to them and bring it all ... big no no this carries business ... particular when it comes to sensitive for a cab information on our clients ... that began in the summer there was a young ... FAA ... works in York started to hail and more frail marched right started to pull reports ... on that ... included a lot of data ... can information on a lot of clients toward his own hundred and fifty thousand told so that ten percent of old Morgan Stanley's will manage the distance ... aam at some point soon ... he begins to take this information home with them ... again major no no and again this takes a major twist in December one and ... some of that data appears on a file sharing service for on line ... out with an offer on to sell its highest ever ... for ... an extremely of skew or ... the Joker yes yes yes so again um no ... Mr Marr show it to to to Morgan Stanley and again is in it and then later his lawyer to the public ... denied putting anything and were denied trying to sell the stuff ... but Dom but he did acknowledge that he had taken this um take misinformation ... on taking it home with them ... Morgan Stanley is is is you might expect a sifted through views on this were computers and one-on-one backed his apartment ... but this computer ... has Pursell devices as they say they've been able to figure out how he got it from their computers to his own yet so if you're an FA you can run of various reports ... on ... from their databases to pull together ... number of different data points ... aam ... almost always if you're half a year looking solely or your own clients are times the assets are right ... exactly ALM so he was able to maneuver through the system ... to change the parameters on that search to bring in ... lots and lots of other people that he had no relationship with any get ... it ... he was ... he just been promoted to full fledged to pay ... out less than a year ago ... you have a ton of clients and suddenly he's sifting through um ... data on three or fifty s to ... an end ... I how it caught on to this messaging Board say I'll we all know that I the rate ... we don't know who put it there I mean generally speaking what we do do a few facts about ... what happened so ... there was this posting on on December twenty seven ALM that included about twelve hundred ... information about twelve hundred counts about nine hundred clients ... aam it was posted anonymously wasn't through a user account set up on the website ... aam there was this offer to visit another website ... with the actual exchange could be made between the data ... and the andthe virtue its that time that the leave it there just think you're a much good stuff to